I believe the best thing the New Jersey can do for itself is to get out of the horse racing industry. It seems to me that the rest of the country is going to have to do that eventually anyway as the industry continues to lose money and the favor of fans. In times of economic recession, most industries are forced to streamline in order to stay relevant, the gambling industry of New Jersey will be no different. Racing in New Jersey loses money every year despite the government backing that the tracks receive.
In the meantime, New Jersey’s once thriving casino industry has suffered numerous blows that it is having trouble recovering from. The emergence of slot machines and finally table games in Pennsylvania has left Atlantic City a shell of its former self. The recession had already taken its toll on the resort community. Hope is not lost for the casinos of Atlantic City, the venues certainly have a lot more competition than they once had, but their decline in revenue has nothing to do with the decline of the gambling industry. It seems that in order to save gambling in Atlantic City it only takes a bit of strategizing. In order to save horse racing it would take a miracle. At best slot machines are just keeping horse racing afloat.
That seems to be what New Jersey officials are leaning toward anyway. The pleas for new slot machines are racetracks seem to be falling on deaf ears.